Council combines bonds

The Kimball City Council included the city’s waterworks plant and water system in the Combined Utilities Revenue and Refunding Bonds (Series 2013) at its regularly scheduled meeting held April 21.

The council heard from Mark Mumford, vice president of Ameritas Investment Corporation, regarding the bond that was issued in 2013.

“To bring in the water into the utilities as a whole will allow us to use those revenues, that will give us the correct ratios moving forward with the combined utilities, so all the utilities will be together,” Mumford said.

That bond paid for new construction and a demolition pit, as well as one third of the solid waste pit at the landfill.

“The last bond series, for the landfill project, we combined our utilities revenue from both our landfill and electric,” City Administrator Daniel Ortiz said. “This one just kind of combines the water.”

Bonds purchased in the future will further city projects, Ortiz said in a follow-up phone call.

“In the future we will have to look at funding the additional two thirds of the solid waste pit,” Ortiz said.

Additionally, Mumford presented a new bond purchase agreement for May 2015 for $750,000.

The new bond will finance the necessary upgrades to the south substation, major maintenance at the city power plant, and maintenance at the landfill mandated by the Nebraska Department of Environmental Quality, according to Ortiz.

Additionally the council approved a request for Keno money from Alex Engstrom, Colby Lukassen and Justin Perry on behalf of the Kimball Ranch Rodeo.

The amount granted by the council was reduced form the requested $4,000 to $3,000.

The event is in its seventh year and each year the committee has requested Keno funds. However, Engstrom said they are attempting to become self-sufficient.

“It does cost us just over $12,000 to put this on,” Engstrom said. “Our goal as a committee is to one day not be here asking for this.”

The Ranch Rodeo draws teams from near and far and teams have been capped now at 14, due to time constraint, Engstrom said. He added that run times end around 9 p.m.

“Our saddle bronc riding is a jackpot event,” Engstrom said. “We have had two riders from Oregon, another one from Utah and a lot of locals out of Colorado and Wyoming that have come in just for the bronc riding.”

The Keno money covers expenses such as the cost for the facilities, transporting stock, the announcer, entertainer and other operating costs, as well as a donation to a local cause.

“Every year we do give a portion of our proceeds to an organization in town, a memorial fund,” Engstrom added. “We missed one year because we just didn’t have the money built up to make the donation.”

The $500 donation for last year’s Ranch Rodeo went to the local TeamMates program and funds from the current event are earmarked for the Kimball Public Library for the youth summer reading program.

Additionally, youth groups such as 4-H and FFA benefit because they are the only vendors during the event, running concession stands to raise funds for the clubs.

“The only outside vendor that we do allow that isn’t a youth program is a company that comes down and sells saddles, bridles and tack,” Engstrom said. “We don’t have somebody around here to do that.”

The council again agreed to a lesser grant for the event as they intend to use some funds for the Fourth of July fireworks show.

Other business before the council was an invitation from a new interlocal group, the Panhandle Economic Development committee. The council appointed council member Christy Warner as its representative to the group.

City attorney Kent Hadenfeldt stated that he has been involved in the meetings. The committee believes that a regional approach to economic development is superior, according to Hadenfeldt, and to that end they are reaching out to area municipalities.

This team, comprised of community leaders throughout the panhandle, would prioritize economic development projects on which ones would bring the biggest return.

“They think their voice would be better heard by a larger number,” Hadenfeldt said.

Council member John Morrison asked if each town would bring their own projects to the board, and Hadenfeldt confirmed that would be the case.

The groups wanted to have a list of members by the end of April. It will begin meeting in May and then an agreement would then be presented to municipalities in June. The group would be funded with LB840 monies.

“I can tell you I have seen government agencies come together that normally don’t, and it has turned out really well,” Warner said. “It is a good experience.”